Pricing Specialist (Commercial Insurance)
Full Job Description
We review the performance profitability of our commercial lines products, provide analytical support to the business and make recommendations to improve the rating used to calculate the premium we charge our customers.
In a SME insurance market which is constantly evolving towards more automation in e-traded environments, the role of the pricing team is key in achieving our ambition to make the company the best data driven insurer in the UK. This involves:
- Improving our pricing databases
- Developing monitoring tools to achieve dynamic underwriting and ensure robust control of our portfolio
- Using statistical models to increase the sophistication of our pricing
- The design, specification, development and implementation of market leading pricing structures
We work closely to the business and interact with other actuarial functions such as reserving and capital modelling.
What being a Pricing Specialist involves:
Working closely with product managers to analyse the performance of your products and recommend rate changes to achieve profitability targets.
This involves data analysis on large databases using actuarial and statistical models to understand profitability and competitiveness by customer profile.
You will be responsible for the end-to-end pricing process of a number of products, from the analysis resulting into a pricing recommendation to the implementation of the rate change.
Experience in general insurance, preferably in Commercial SME but personal lines or large commercial risks is acceptable too.
Strong statistical-actuarial skills with a degree in statistics-maths-actuarial science (or previous experience in an analytical role).
Advanced-intermediate knowledge of SAS and Excel. Visual Basic and Access experience beneficial.
Experience in using generalised linear models an advantage.
Good communicator capable of explaining findings of the analysis to the wider business and influencing stakeholders.
Innovative and commercially focused approach.
Problem solving process improvement.
Insurer
Up to £50k + 9% pension + benefits
Where specific UK qualifications are required we will take into account overseas equivalents.
Please quote Michael Page reference when applying Job ref:MPGX13255472
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